Company on track to meet 2022 operational goals and milestones. Mullen anticipates delivery of the first EV cargo van fleet vehicles in Q2 2022. The Company is unaware of any business reason for the current decline of the Mullen stock (MULN) price.

BREA, Calif., Feb. 17, 2022– via InvestorWire – Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces recent highlights and accomplishments for the Company, Mullen FIVE and EV Van Crossover Programs.

“Mullen has made solid progress since going public on Nov. 5, 2021. Below are the summarized highlights and accomplishments,” stated David Michery, CEO and chairman of Mullen Automotive.

Recent Highlights and Accomplishments

• Mullen is on track to deliver the first EV cargo van fleet vehicles in Q2.
• High-performance versions of the Mullen FIVE are due to arrive in late summer 2022. National test drive event for Mullen “Front Row” reservation holders to be announced on future date.
• Mullen has successfully filed over 120 patents in 24 countries for the Mullen FIVE EV Crossover.
• Mullen’s purchase of Tunica’s AMEC manufacturing facility. Company owns this facility free and clear, with no associated debt or financial obligations on the property.
• World debut of the Mullen FIVE on Nov. 17, 2021, at the Los Angeles International Auto Show.
• Mullen FIVE won the best SUV ZEVAS™ (Zero Emission Vehicle) Award at the 2021 Los Angeles International Auto Show, besting both Lincoln and Rivian for the top honor.
• Recently earned media coverage of Mullen in over 40 publications, including Automotive News, Wards Auto, Bloomberg, Barron’s, InsideEVs, Robb Report, HotCars and Carbuzz.
• Successful completion of extensive consumer EV market study revealing Mullen FIVE scored high against Tesla Model Y and Ford Mach-E.

Further details on these highlights and accomplishments can be found under the news section of Mullen’s website.

Mullen has recently announced a string of key partnerships with hofer powertrain, Comau, ARRK, Dürr, and DSA Systems for EV powertrain, engineering, manufacturing, vehicle production systems, and Over the Air (OTA) and vehicle system diagnostics respectively. The Company expects these strategic developments to play a crucial role in bringing the FIVE to market with the latest technology and least amount of time. Mullen FIVE was also named "Top Zero Emission SUV" by the ZEVA^® Awards at the Los Angeles International Show in November 2021, where it made its debut.

The FIVE is built on an EV crossover skateboard platform that offers multiple powertrain configurations and trim levels in a svelte design that is “Strikingly Different™^” and exciting to experience in person. Learn more about the Mullen FIVE at MullenUSA.com.

About Mullen:

Mullen is a Southern California-based automotive company that owns and partners with several synergistic businesses working toward the unified goal of creating clean and scalable energy solutions. Mullen has evolved over the past decade in sync with consumers and technology trends. Today, the Company is working diligently to provide exciting EV options built entirely in the United States and made to fit perfectly into the American consumer’s life. Mullen strives to make EVs more accessible than ever by building an end-to-end ecosystem that takes care of all aspects of EV ownership. For more information, please visit www.MullenUSA.com.

Forward-Looking Statements

This press release contains "forward-looking statements." Words such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar expressions, as well as statements in the future tense, often signify forward-looking statements. These forward-looking statements include, without limitation, statements relating to the reverse merger, the Nasdaq approval process, and the proposed debut date of the Mullen FIVE (formerly MX-05) midsize crossover. These forward-looking statements are, by their nature, subject to significant risks and uncertainties.

Forward-looking statements should not be read as a guarantee of future performance or results and may not be accurate indications of when such performance or results will be achieved. Forward-looking statements are based on information that the Company has when those statements are made or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements, including factors beyond the Company's control. As a result of these and other risks, uncertainties, and assumptions, forward-looking events and circumstances discussed herein might not occur in the way the Company expects or at all. Accordingly, readers should not place reliance on any forward-looking information or statements. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events, or otherwise. All forward-looking statements herein are qualified by reference to the cautionary statements set forth in this section.

Contact:

Mullen Automotive, Inc.
+1 (714) 613-1900
www.MullenUSA.com